MKT: S&P price projection

[RL2946@xxxxxxx]

     Realtraders,

     Fridays plunge should play out like the other short
term shake-outs we have been subjected to.
The SPY looks choppy, but the Chaiken money flow
oscillator is still in the green.  
     To add into to mix of possible time/price projections for the turn back
up:
      NP gives an energy point for 7/20 (sunday) using
the dynamic cycle (cd, 8 bars, 89 pivots, golden section multiplier); friday
may have been the pivot
day, we will soon know for sure.
     From the 6/23/97 low to the 7/16/97 high,
a 38% price retracement yields approx 915.29
     From the 7/9/97 low to the 7/16/97 high,
a 62% price ret. yields approx 916.50
     Not far from friday's 915.30 close.
May just present temporary resistance.      
     Keep in mind Rick Ratchford's FDATE of 7/22/97.  Also, Kasanjian
Research' PulseRate projection of 7/25/97.
One of these should mark a renewed march up... 
Look for confirmation; a break out to new highs?

     Here are some proximally similar intermediate top price projections for
the cash s&p.

     A.  An external retracement for the week ending
          2/22/97 (H) and the week ending 4/19/97 (L)
          at 2.62 => approx.  976
     B.  An ext. ret. for the week ending 6/28/97,
          both (H) and (L)
          at 4.24 => ~ 981.57
     C.  A price expansion for the wk. end. 7/20/96 (L)
          and the wk. end. 2/22/97 (H)
          at 1.62 => ~ 981.77 

          Not ironclad, but achievable in the environment
          we have been experiencing, if it only continues
          a fortnight or so; in this amateur's opinion.
  
         Best wishes,

         Rory Lewellen         RL2946@xxxxxxx